YIT Oyj

YIT Corporation announced its expansion in the Czech Republic through a joint venture with RSJ Investments. The venture involves purchasing land and developing a residential project in the Židenice area of Brno, the Czech Republic's second-largest city. Both YIT and RSJ Investments hold equal shares in the joint venture, which aims to build approximately 750 apartments across seven phases, with construction starting in spring 2025 and completion expected by summer 2031. The project's estimated market value exceeds EUR 200 million. The location offers scenic views, greenery, and convenient access to the city center. The collaboration allows for efficient capital use and strengthens YIT's presence in the region. YIT is a prominent construction and development firm with operations in eight countries, employing around 4,300 people and generating EUR 2.2 billion in revenue in 2023.

YIT Corporation announced an agreement with TA-Yhtymä to construct Asunto Oy Espoon Kipsimestari, an ARA-funded project in Kera, Espoo. The project includes two apartment buildings and the sale of the plot, valued at approximately EUR 12 million, to be recorded in the last quarter's order book. The development will cover about 3,700 square meters and consist of 48 apartments, primarily family-oriented with features like glazed balconies. It will also include a bicycle maintenance room and a shared recycling room. This is YIT's second project in the Kera area, which is designed as a modern, community-focused urban space. YIT is a leading construction company with a history of over 110 years, employing around 4,300 people across eight countries, with a 2023 revenue of EUR 2.2 billion. Their shares are listed on Nasdaq Helsinki.

YIT Corporation announced that it will release its Financial Statements Bulletin for 2024 on February 7, 2025. The complete Financial Statements for 2024 will be available by the end of week 11 in 2025. In 2025, YIT will also issue two Interim Reports and a Half-Year Report: for January-March on April 29, for January-June on July 25, and for January-September on October 30. YIT observes a silent period before each report, starting on January 1, April 1, July 1, and October 1, until the respective report is published. The Annual General Meeting is scheduled for April 3, 2025, with the Board of Directors to summon it later. Shareholders wishing to propose agenda items for the meeting must submit them by January 10, 2025. YIT is a major construction and development company with over 110 years of experience, employing around 4,300 people across eight countries, and had a revenue of EUR 2.2 billion in 2023. Its shares are listed on Nasdaq Helsinki. For more information, Essi Nikitin, Vice President of Investor Relations, can be contacted.

YIT Corporation reported improved profitability across all segments in the third quarter, with a positive cash flow. The order book decreased to EUR 2,736 million, with 77% sold. Revenue fell to EUR 453 million, with declines in Housing and Business Premises but an increase in Infrastructure. Adjusted operating profit rose to EUR 26 million, supported by strong performance in contracting and Housing Baltic and CEE. Operating cash flow after investments was EUR 2 million, and net interest-bearing debt decreased to EUR 789 million. The transformation program achieved cost savings of EUR 41 million, exceeding targets. Despite challenges in the Finnish housing market, YIT remains optimistic about future growth, particularly in Central Eastern Europe. The company plans to continue focusing on strategic priorities and operational improvements, with an updated strategy to be announced in November. YIT's adjusted operating profit for 2024 is expected to be between EUR 20-60 million, with positive operating cash flow after investments.

YIT Corporation has begun constructing a residential apartment building named Bostads Ab Korsholms Bergius Asunto Oy in Mustasaari near Vaasa. This six-storey building will include 40 flats, each with a balcony, and spans approximately 3,000 gross square meters with a project value of about EUR 9 million. Scheduled for completion by the end of 2025, the building meets energy class A standards and will use renewable energy during construction, with at least 75% of waste being recycled. The flats will range from 27 to 102.5 square meters and feature high-quality materials and appliances. The development will include amenities like an outdoor gym, recreational space, and a play area, with several parking spaces equipped for electric vehicle charging. YIT's Area Manager, Mikael Snellman, expressed enthusiasm for the project, highlighting its park-like setting and proximity to local services. YIT is a major construction and project development company with a 2023 turnover of EUR 2.2 billion, employing around 4,300 professionals across eight countries.